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11th Chapter

12th Principles of Banking Chapter 11 Test

Here you can prepare 12th Class Principles of Banking Chapter 11 Non-Negotiable Instruments Test. Click the button for 100% free full practice test.

12th class Principle of Banking chapter 11 online mcq test with answers for ICom part 2 Principle of Banking Chapter 11 (Non-Negotiable Instruments)

This online test contains MCQs about following topics:

. Banker's letters of credit . Money order . Postal order . I owe you(I.O.U) . Stock certificate

ICOM Part 2 Banking Ch 11 Test
ic

12th class Principle of Banking chapter 11 online mcq test with answers for ICom part 2 Principle of Banking Chapter 11 (Non-Negotiable Instruments)

Sr. # Questions Answers Choice
1 Which of the following parties of a letter of credit is called beneficiary
  • A. Importer
  • B. Exporter
  • C. Opening bank
  • D. Advising bank
2 Where are the stock certificates sold and bought
  • A. At commercial bank
  • B. At central bank
  • C. At post office
  • D. At stock exchange
3 Which of the following is an order of payment by one post office for another post office
  • A. Postal order
  • B. Money order
  • C. Both a and b
  • D. None of these
4 The first stage or step between importer and exporter for the purpose of sale and purchase is:
  • A. Oath or undertaking
  • B. Agreement
  • C. Contract with bank
  • D. Issuing of L.C
5 I Owe You is a written instrument drawn by
  • A. Trader
  • B. Debtor
  • C. Creditor
  • D. All the above
6 What does the bank receive on issuing a letter of credit:
  • A. Profit
  • B. Interest
  • C. Commission
  • D. Duty
7 Which of the following can be cancelled by the issuing bank without the consent of the other parties
  • A. Revocable letter of credit
  • B. Irrevocable letter of credit
  • C. Revolving letter of credit
  • D. Unconditional letter of credit
8 Which of the following is useful in facilitating trade relation between the businessmen of different countries
  • A. Bank draft
  • B. Money order
  • C. Letter of credit
  • D. Stock certificate
9 If the exporter is not the receiver (beneficiary) of money then a letter of credit is called:
  • A. Resolving
  • B. Back to Back
  • C. Transferable
  • D. None of the above
10 Which letter of credit is automatically renewed by fulfilling certain conditions
  • A. Fixed
  • B. Documentary
  • C. Confirmed
  • D. Revolving

Top Scorers of Principles of Banking Icom Part 2 English Medium Chapter 11 Online Test

A

Azhar Malik

Lahore05 - Feb - 2024

8/15
03 Mins 05 Sec

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